The European Central Bank on Thursday cut its main refinancing rate by 25 basis points to 0.5 percent, the first rate cut since July 2012.
“Our monetary policy stance will remain accommodative for as long as is needed,” Mario Draghi, the President of the European Central Bank said at a press conference after the decision.
Most economists had expected a rate cut of 25 basis points. Record high unemployment figures for the euro zone released earlier this week and a fall in inflation strengthened the case for a rate cut.
The market was so worried about the fate of stocks, following yesterday’s crash. Due to the severity of the market plunge, Benjamin Bernanke’s best friend, “Money Mario” Draghi, slashed interest rates by 25bps and said free money would be available forever.
As such, S&P futs are +6.
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twin sons of different mothers
I guess if you can get a loan for anything, there probably isn’t a better time to do so.
I recently got a loan for a new car at 1.5%. 1.5%. Was going to pay cash but the money was basically free for 5 years.
Free money
Money for houses are free too.
Straight up free…if you are willing to buy something, they will just give you money for nothing.
If you are a corporation of any reliability, you can borrow money for 40 years for free.
Everyone is just dying to unload their cash.
Speaking with the owner of a local Chrysler dealership a month or so ago and he said credit is available if you can prove you don’t need it in the first place.
Calling BS on the free money thing.
Bad credit = no free money
Responsible borrowers = FREE MONEY
Exactly how it’s supposed to work.
Folks buying Chrysler’s = Deadbeats = no free money
Looks like Draghi doesn’t pack cocaine of the same potency as B-MACK.
Draghi has the fire too. Don’t sleep on him.
Ben gives out cocaine when the party sucks and no one is having a good time. That’s why the rush is so good.
Draghi shows up when party is rolling, it’s after midnight and everyone did a few lines earlier.
I am guessing this rolls over today…
Olde Wives Tales:
Walking under a ladder
See a black cat
Hang a horseshoe over the doorway
Go away in May
Day trading is profitable
Market timing
Le Fly, what do you think about EXP over USG?
Whoops! Sorry Fly! No Sell In May (or soup) for you! Lmao
What can I say? I just love to get higher.
10am, sun in his eyes, Draghi driving across town for another 8 ball.
*i’ve got the world on a string* waiting on a BLS number…
Sometimes I kid….just kidding….I never kid…..or do I? Seriously, Sell In May! No, just kidding….again. Just be careful out there…..no kidding.